RT info:eu-repo/semantics/article
T1 Investment inefficiency in the hospitality industry: the role of economic policy uncertainty
A1 García Gómez, Conrado Diego
A1 Demir, Ender
A1 Díez Esteban, José María
A1 Popesko, Boris
K1 Economic policy uncertainty
K1 Investment inefficiency
K1 Underinvestment
K1 Overinvestment
K1 Hospitality firms
K1 Inversiones
K1 Investments
K1 Hostelería
K1 Hospitality industry
AB Corporate investment inefficiency in the hospitality industry is an understudied topic. In this paper, we examine the effect of Economic Policy Uncertainty (EPU) on the investment inefficiency of a sample of 213 hospitality firms in the U.S. for the period 2010–2019. The results reveal that a rise in economic policy uncertainty leads to an increase in firm-level investment inefficiency in the hospitality industry. The underinvestment and the overinvestment problems are exacerbated by uncertainty. The results are robust for different variables specification and econometric techniques. Policy implications are also provided.
PB Elsevier
SN 1447-6770
YR 2023
FD 2023
LK https://hdl.handle.net/10259/12251
UL https://hdl.handle.net/10259/12251
LA eng
DS Repositorio Institucional de la Universidad de Burgos
RD 09-oct-2026